Saratu Umar, the newly appointed Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission, NIPC, has resigned her position on the board of BUA Foods.
The company disclosed in a statement on Monday seen by THE WHISTLER that her resignation was according to government laws and global best practice.
Her resignation was dated July 28, 2022 which was six days after she assumed office.
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President Muhammadu Buhari on July 6 appointed Saratu to head the agency she was sacked over seven years ago.
Saratu was first appointed to the position in July, 2014, but was dismissed by President Goodluck Jonathan in May 2015 over alleged unethical practices.
The company said, “The Board of Directors of BUA Foods Plc (the Company) hereby notifies the Nigerian Exchange Limited and the general public of the resignation of Saratu Umar as an Independent Non-Executive Director of the Company.
“Saratu Umar’s resignation is due to her recent appointment by the President of the Federal Republic of Nigeria, as the Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission.
“The appointment necessitated her resignation, in line with government stipulations as well as global best practices in corporate governance. The Board appreciates the immense contribution of Saratu Umar to the Company during her tenure as an Independent Non-Executive Director.”
The Buhari led government appointed her for her competence, a statement from his spokesperson, Garba Shehu, read.
Shehu said she “transformed the NIPC into a world-class investment agency and minimised revenue leakages; saving the country N500 billion for which she received a commendation from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).”
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